Great News for Cyprus Property Buyers!

Great News for Cyprus Property Buyers! 🏡

Great news if you are looking to buy a home or invest in real estate in Cyprus! The government has officially extended the 5% VAT incentive until December 31, 2026.

This gives buyers a fantastic window of opportunity to save thousands of euros before the stricter, more expensive rules take over.

Here is the simple breakdown:

🔹 What you get until the end of 2026 (Old Rules):

5% VAT applies to the first 200 sq.m. of the property.

No limits on the total price of the property.

No limits on the total size of the house.

🔸 What happens from 2027 onwards (New Rules):

Stricter limits: 5% VAT will only apply to the first 130 sq.m.

Price Caps: The property value cannot exceed €350,000 (and total transaction max €475,000) to get the discount.

Size Caps: If the house is bigger than 190 sq.m., you lose the discount entirely and pay a flat 19% VAT on the whole thing!

⚠️ The Catch:

This extension specifically protects projects that submitted their planning permits before October 31, 2023, but faced government delays.

Pro Tip: If you are buying a property right now, ask your developer or lawyer exactly when the planning permit was submitted. Finding a property that qualifies for the old rules could save you thousands in taxes! 💸

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